Top locales in Britain for post-work bliss: Identifying ideal retirement destinations
A new study by Legal & General (L&G) has identified the top 20 areas in Britain that are ideal for retirement, focusing on factors such as housing, health, community, nature, local amenities, and financial security. The research ranks these areas based on their combined scores in these six pillars, with Chesham and Amersham in Buckinghamshire taking the number one spot.
The Top 20 Retirement Hotspots
- Chesham and Amersham, Buckinghamshire
- Beaconsfield, Buckinghamshire
- Dorking and Horley, Surrey
- Godalming and Ash, Surrey
- Mid Sussex
- Woking, Surrey
- Farnham and Bordon, Surrey
- Esher and Walton, Surrey
- Ruislip, Northwood and Pinner, London commuter towns (ranked 14th) 10-20. Other areas include constituencies in Kent, West Sussex, Suffolk, and Cheshire, although specific names beyond those listed above were not provided.
Chesham and Amersham scored particularly well in health (93), financial security (78), and across the other pillars, making it a well-rounded retirement environment. The London commuter towns also made the list due to their access to amenities, despite some financial security challenges in central London.
Key Findings
- Retirees with a guaranteed income, such as those with an annuity, report higher levels of satisfaction and face fewer affordability challenges. They are more likely to report lower levels of stress (51%) and the highest level of financial confidence (24% versus 21%) compared to those without one.
- The financial pillar, which covers pension income, cost of living, housing affordability, and deprivation levels, has a significant effect on later life wellbeing.
- Neighbouring Beaconsfield (also in Buckinghamshire) takes the second spot for retirement happiness, while Dorking and Horley in Surrey comes third in the list of retirement happiness hotspots.
Additional Highlights
- The happiest retirees have an average monthly income of £1,700, but only 38% of retirees receive this or more, while many live on much less.
- Mid Dunbartonshire and Monmouthshire are the top retirement spots in Scotland and Wales respectively. However, the top 20 in Britain’s overall ranking focus on commuter and picturesque market towns noted for quality of life factors.
Lorna Shah, managing director, retail retirement, at L&G, stated that the research gives a more complete picture of what shapes a happy later life, emphasizing the importance of health, social connections, environment, and financial security in retirement wellbeing.
If you have a workplace or personal pension, you'll need to decide how to take money out when you retire. A separate piece provides more information about how much you need for a comfortable retirement.
- Retirees in the top 20 retirement hotspots, such as Chesham and Amersham in Buckinghamshire, often prioritize home-and-garden projects to enhance their lifestyle during retirement, given the high quality of life factors in these areas.
- With a comfortable pension income and a focus on factors like health, community, and lifestyle, retirees in these top 20 retirement hotspots, like Dorking and Horley in Surrey, may find it easier to maintain their current lifestyle and enjoy their home-and-garden pursuits without financial worries.
